Strategy and Corporate Affairs General Manager at Kuwait Finance House (KFH), Eng. Fahad Khaled Al-Mukhaizeem, stressed the importance of the added value KFH achieves in the Islamic banking industry through practices that cover all legislative, investment and financial fields.

He added, in a press statement, on the heels of receiving “Islamic Economy Knowledge Infrastructure” award from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, at the Islamic Economy Awards ceremony held recently in Dubai, that the information infrastructure represented by the researches, reports and studies of Islamic financial industry has witnessed its breakthrough when KFH had established a specialist advisory and research arm (KFH Research). The establishment of this arm came as part of the firm belief of the importance of researches in improving the Islamic banking industry and fortifying its presence especially that the global Islamic financial services industry is estimated to reach USD 2 trillion.

Moreover, Al-Mukhaizeem indicated that KFH Group works tirelessly to enrich the Islamic banking experience in all its practical and legislative fields. This happens by tracking scientific approach, professional performance and full commitment with regulatory and supervisory frameworks. He said that KFH was the first bank to expand overseas, the first bank to offer several innovative products, services, contracts and projects structuring while optimally utilizing technology that affirmed bank’s leadership and prestigious status as a model example of other sharia-compliant banks.

He explained that KFH, by virtue of its leadership position, will continue maximizing the role of Islamic products and services as major pillars in the life of societies and Islamic population around the world, especially that Islamic financial industry has gained great momentum throughout the world.

It is worth noting that His Highness Sheikh Mohammed bin Rashid Al Maktoum, honored 8 winners; individuals and companies, of the 2nd Islamic Economy Award, in addition to the Life-time Achievement Award to Hajj Saeed bin Ahmed Al Lotah, founder of Dubai Islamic bank after they had been selected by a prestigious committee that includes a number of heads and dignitaries from several countries.

Dubai Islamic Economy Development Centre initiated the Islamic economy award in cooperation with Dubai Chamber of Commerce and Industry and Thomson Reuters. The award attracted 248 submissions compared to 148 in 2013 and from 48 countries compared to 31 in 2013.

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Kuwait Finance House (KFH) is considered a pioneer in the banking phenomenon known as Islamic Finance or Shari’a Compliant Banking. KFH is the first Islamic bank established in 1977 in the State of Kuwait and today it’s one of the foremost Islamic financial institutions in the world.